Grayscale Investments launches Solana Trust; rivaling with Ether

Nov. 30, 2021 10:16 AM ETGBTC, ETHEBy: Max Gottlich, SA News Editor11 Comments

Blockchain financial technology to secure cryptocurrencies as bitcoin for online payments and money transaction. Fintech concept with encrypted ledger blocks chained. Person working on computer

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  • Grayscale Investments, with the Grayscale Bitcoin Trust (OTC:GBTC) and Grayscale Ethereum Trust (OTCQX:ETHE), as its most well-known products, launches the Grayscale Solana Trust.
  • The Trust is solely and passively invested in Solana (SOL-USD), the native token of the Ethereum (ETH-USD) network rival, Solana network, a smart contract platform.
  • The Solana (SOL-USD) protocol introduces the Proof-of-History consensus mechanism as an alternative to pure Proof-of-Stake and Proof-of-Work blockchains.
  • Note that a PoH protocol is a proof for verifying order and passage of time between two events.
  • The Trust is now open for daily subscription by eligible individual and institutional accredited investors, the company says.
  • Solana (SOL-USD) tokens climb 4% on Tuesday as the broader crypto market gets a boost. (OTC:GBTC +0.7%) and (OTCQX:ETHE +6.2%) rise.
  • On Monday, Singapore launched a spot Bitcoin ETF.

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